This episode is presented by Baker Tilly, a top 10 accounting tax and advisory firm.

Hello and welcome back to Equity, TechCrunch's flagship podcast about the business of startups.

I'm Max F, a senior reporter at TechCrunch.

I'm Anthony Ha, TechCrunch's weekend editor.

And I'm Shoto Kane, a senior reporter at TechCrunch.

And we're going to be covering, you know, deals and trends.

Before we get to that, I just wanted to mention a little update on CoreWeave, which is a former

crypto-now AI infrastructure company

that we've talked about a lot on equity, basically in a filing. They've acknowledged that there

were maybe some challenges or not challenges, financial hiccups that they hadn't disclosed before.

Basically, they'd taken out, you know, this $7.6 billion loan, and then they had to

admit that they had triggered technical defaults on the loan. I didn't even know what a technical

default was, but it's basically when it's not that you're not making the payments, but you're not

holding to all the terms of the loan. In this case, it had to do with how CoreWeve had taken,

a bunch of money it's borrowed, and then started spending it in Europe, which it was not

supposed to do. And so the lender, which was Blackstone, was like, that's fine. We're not

going to, like, cancel the loan because of that. But it does indicate both just the scale of, like,

the money and the loans that CoreWeave is taking out and

also hey like these guys maybe don't fully have are not fully on top of all their finances.

Yeah, I think there's been a lot of kind of interesting signals ahead of this Correweave IPO.

Bloomberg actually reported this morning that Corrie have cut the size of its IPO from

2.7 billion to now 1.5 billion. We also saw earlier that the founders of Corrieve

...